GBP/USD keeps falling, around 1.5070

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The offered tone in the pound continues to put GBP/USD under increasing selling pressure on Tuesday, now testing daily lows in the 1.5070/60 band.

    GBP/USD weaker on BoE

    GBP continues to suffer the dovish comments from BoE officials during the European morning, prompting spot to surrender further gains and intensify the weekly decline for the third session in a row.

    It is worth mentioning that BoE’s Chief Economist A.Haldane sees more downside risks to the UK economy and inflation than in the previous Inflation Report, while Governor M.Carney stressed that current low rates are likely to remain for longer.

    GBP/USD important levels

    The pair is now losing 0.28% at 1.5070 facing the next support at 1.5023 (low Nov.6) ahead of the psychological mark at 1.5000 and then 1.4853 (low Apr.21). On the flip side, a breakout of 1.5217 (61.8% Fibo of 1.5023-1.5336) would expose 1.5303 (55-day sma) and finally 1.5336 (high Nov.19).
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